Get to know your offshore companies: FACEBOOK INC. (NASDAQ: FB)

Facebook, Inc. is focused on building products that enable people to connect and share through mobile devices, personal computers and other devices. The company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus.

The company recently released its 2Q2020 financial results. The group reported an 11% increase in total revenue to USD18.7 billion (2Q2019: USD16.8 billion). Revenue generated from advertising was up by 10% to USD16.6 billion (2Q2019: USD18.3 billion), and other revenues rose by 40% to USD366 million (2Q2019: USD262 million).

Since COVID-19 emerged, people have used Facebook’s services to stay in touch with friends and family, and to keep their businesses running online, even when physical stores were closed.

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